Funding and payments

Funding and payments

How Entrepreneurial Universities funding is set and payments are made. Also includes funding allocation and funding recoveries information.

How Entrepreneurial Universities funding is set and payments are made. Also includes funding allocation and funding recoveries information.

The funding mechanism for Entrepreneurial Universities is issued by the Minister responsible for tertiary education. The funding mechanism outlines the general form and essential components of the fund. It provides the mandate for us to allocate the funding and what the funding can be used for, and details how we administer the fund.

Universities that are allocated funding under the Entrepreneurial Universities initiative are funded via a funding confirmation letter.

A university that receives Entrepreneurial Universities funding is required to:

A university can apply for up to $1.5 million per year to fund its entrepreneurial research programme. Government funding will at least be matched or exceeded by a university’s contribution, and we will consider the university’s contribution when we assess the programme’s value for money.

Payment

Entrepreneurial Universities funding is paid in quarterly instalments. Payments are made after we have approved the university’s yearly reports as set out in the Outcome Assessment Framework.